Showing posts with label Politics. Show all posts
Showing posts with label Politics. Show all posts

Monday, March 11, 2024

Omoyele Sowore jailed for 4 years in Nigeria reunites with family

Omoyele Sowore who was detained in Nigeria for four years was reunited with his family in Haworth over the weekend.

Omoyele “Yele” Sowore had been jailed since August 2019 after running for president and organizing a protest in the West African nation.

“I stand today to declare that I am unbowed,” Sowore wrote in a tweet ahead of a celebratory gathering on Saturday.

Sowore lived with his family in Haworth and traveled back and forth to Nigeria prior to his arrest in August 2019. He also operated an independent news site, Sahara Reporters, that criticized corruption in the country.

In 2019, Sowore ran a long-shot presidential campaign in Nigeria and called for a protest following the election. Before the demonstration could occur, Sowore was arrested and charged with treason.

As his legal case took several twists and turns, Sowore’s family spread the word in New Jersey and organized calls for his return.

“During these difficult years, the entire Haworth community has united around the Sowore family and demonstrated what it means to live with Jersey Values, selflessly lending a hand to those in your community who needed help,” Rep. Josh Gottheimer (D-N.J.) said in a statement.

Sowore said despite his triumphant return, he still plans to return to Nigeria and continue fighting corruption.

“My trip today to reunite with my children and courageous and supportive wife is only for a short while,” he tweeted. “I will return to Nigeria to continue my struggle for the total liberation of our people from the shackles of the current corrupt, self-serving political class.” 

By Joeseph Wilkinson, New York Daily News

Related story: Journalist Omoyele Sowore still remains in detention in Nigeria

Tuesday, March 5, 2024

Video - Nigeria cracks down on electoral fraud with trials for 2023 polls



The government, with assistance from the Nigerian Bar Association, started trials against members of the country's election commission and other political figures indicted for various offenses during the 2023 general election.

CGTN

Related story: Nigerian military speaks on reports of alert over coup plot

 

Wednesday, February 28, 2024

Video - Nigeria plans to streamline bureaucracy to reduce costs



The move follows recommendations from a 2012 report that suggested the elimination or merger of some 220 of more than 500 government agencies.

CGTN

Related story: Nigeria to merge, scrap, government agencies to trim costs

 

 

Monday, February 26, 2024

Nigerian military speaks on reports of alert over coup plot

The Defence Headquarters (DHQ) has denied allegations that the Guards Brigade has been put on high alert over suspected activities of coup attempts in the country.

The Acting Director Defence Information, Tukur Gusau, a brigadier general, disclosed this on the DHQ official X account on Sunday.

Mr Gusau said the attention of the DHQ was drawn to a report published by SaharaReporters on 25 February claiming that the Guards Brigade had been put on high alert following unusual movements, leading to suspicion of a coup plot in Nigeria.

The report also said the suspicion prompted an emergency meeting involving President Bola Tinubu, the Chief of Staff to the President, Femi Gbajabiamila, and the Commander of the Guards Brigade, Adebisi Onasanya, a colonel.

Mr Gusau said the publication was a figment of the imagination of the publisher and should be disregarded by the public.

He said the Chief of Defence Staff, Christopher Musa, had repeatedly reiterated the unalloyed commitment of members of the armed forces to the protection and sustenance of democracy in Nigeria.

“It will be recalled that the Chief of Defence Staff, General Christopher Musa OFR had in various fora reiterated the unalloyed commitment of members of the Armed Forces of Nigeria to the protection and sustenance of democracy in Nigeria. Therefore, the Defence Headquarters strongly condemn this unsubstantiated assertion which is just a figment of the imagination of the publisher and enjoins members of the public to disregard it,” the statement said.

Last week, Mr Musa had cautioned those demanding a coup in the country.

Read the full statement below:


PRESS RELEASE
DHQ REFUTES ALLEGATION OF GUARDS BRIGADE PLACED ON HIGH ALERT OVER SUSPICION OF COUP PLOT IN NIGERIA

1.​The attention of the Defence Headquarters has been drawn to a malicious and unfounded article published online by @SaharaReporters on 25 February 2024 claiming that the Guards Brigade has been put on high alert following unusual movements, leading to suspicion of a coup plot in Nigeria. The publication also asserted amongst other things that the suspicion prompted emergency meeting involving President Bola Tinubu, the Chief of Staff to the President and Commander of the Guards Brigade.

2.​The publication also asserted amongst other things that the suspicion prompted emergency meeting involving President Bola Tinubu, the Chief of Staff to the President and Commander of the Guards Brigade.

3.​It will be recalled that the Chief of Defence Staff, General Christopher Musa OFR had in various fora reiterated the unalloyed commitment of members of the Armed Forces of Nigeria to the protection and sustenance of democracy in Nigeria. Therefore, the Defence Headquarters strongly condemn this unsubstantiated assertion which is just a figment of imagination of the publisher and enjoins members of the public to disregard it.

4.​Furthermore, the Defence Headquarters calls on relavant security agencies to immediately take appropriate action against the Sahara Reporters for this unpatriotic action. Meanwhile, the Defence Headquarters will seek legal redress on the issue which has the ulterior motive of creating unnecessary tension in the country.

Signed:

TUKUR GUSAU

Brigadier General

25 February 2024

Acting Director Defence Information

By Ademola Popoola, Premium Times

Nigeria to merge, scrap, government agencies to trim costs

Nigeria's government has approved a plan to merge, scrap, and relocate several agencies to streamline its bureaucracy and cut costs, the information minister said on Monday.

The move followed recommendations from a 2012 report from a government-appointed committee that suggested the elimination or merger of some 220 of more than 500 government agencies.

Information Minister Mohammed Idris told reporters that under the plan announced on Monday more than 20 government agencies will be merged, subsumed under existing ministries, or relocated.

Streamlining government bureaucracy in Nigeria has been the subject of debate for years, with critics pointing to overlapping mandates and redundancies among agencies.

President Bola Tinubu has set up a committee to ensure that necessary legislative amendments are made within 12 weeks to ensure the plan is fully executed, said Hadiza Bala Usman, an adviser to the president, who gave details of the policy.

Africa's largest economy is grappling with sluggish economic growth, low revenue and rising public debt.
After taking office in May last year, Tinubu embarked on the boldest economic reform program in decades, but his government is now under pressure to cut the cost of governance and improve efficiency.

Although welcomed by investors, unions say the reforms have have led to soaring costs at a time when Nigerians are already grappling with sky-high inflation. 

By Felix Onuah, Reuters

Friday, February 16, 2024

President Tinubu picks son-in-law to run housing agency

President Bola Tinubu has appointed his son-in-law as the head of the Federal Housing Authority (FHA), sparking concerns about nepotism.

Oyetunde Oladimeji Ojo is married to Mr Tinubu's eldest daughter, Folashade.

This is the first time President Tinubu has selected a relative for a position in the federal government.

Announcing his appointment, the presidency said Mr Ojo had "over a decade of work experience in the housing and hospitality industries".

He is also a former member of the House of Representatives.

But there has been a strong reaction on social media with some arguing that there were more qualified and deserving candidates than Mr Ojo.

"Blatant nepotism is a leadership weakness. It's unfortunate Nigerian leaders don't see it as a form of ethical failure," one person posted on X.


Some have come out to defend the naming of Mr Ojo for the role, saying his relationship with the president should not bar him from government jobs.

His appointment was part of the president's move to overhaul the management of the housing ministry.

The FHA, which falls under the ministry, is supposed to help deliver affordable homes across Nigeria.

The government did not immediately comment on the criticisms raised about the appointment.

By Wycliffe Muia, BBC 

Thursday, January 25, 2024

America determined to remain strong security partner for Nigeria

Secretary of State Antony Blinken on Tuesday said the United States is determined to remain a strong security partner for Nigeria, whose military is backed by the U.S., Britain and other allies in a long war against Islamist insurgents.

Blinken also discussed challenges to democracy and security in the region during his meeting on Tuesday with Nigerian President Bola Tinubu in a visit that comes after last year's coup in neighboring Niger, one of a series of coups or attempted power grabs over the past few years in West and Central Africa.

"The United States is determined to be and remain a strong security partner for Nigeria," Blinken told reporters.

Blinken added that he discussed how it is vitally important there be a focus on ensuring civilians are protected and humanitarian considerations.

Observers have noted a pattern of deadly aerial assaults by the Nigerian military that have killed civilians, which was the subject of a Reuters special report last year.

The U.S. faced a setback in its fight against militants in the Sahel when military officers toppled Niger's President Mohamed Bazoum, a key ally, in July last year.

The coup in Niger was one of a series of military takeovers or attempted power grabs that occurred in West and Central Africa over the past three years.

The instability has raised concern, particularly as juntas have cut ties with traditional Western allies such as the European Union and France, which withdrew thousands of troops from the Sahel last year.

Blinken, speaking in Abuja as part of a four-nation tour of Africa taking him to Cape Verde, Ivory Coast, Nigeria and Angola from Jan. 21-26, also said repatriation of capital and corruption were among challenges that need to be tackled for companies to invest in Nigeria.

Africa's biggest economy has about $7 billion in forex forwards that have matured, a major concern for investors as foreign currency shortages continue to weigh down the naira currency, despite assurances by the Central Bank of Nigeria (CBN) to clear the backlog.

So far, about $2 billion of the backlog across sectors such as manufacturing, aviation, and petroleum have been paid, CBN spokesperson Hakama Sidi Ali said in a statement.

By Chijioke Ohuocha and Felix Onuah, Reuters

Related story: Video - Secretary Blinken joint press availability with Nigerian Foreign Minister Yusuf Maitama Tuggar

Video - Nigeria recruits nearly 30,000 police officers to tackle insecurity

Wednesday, January 24, 2024

Video - Secretary Blinken joint press availability with Nigerian Foreign Minister Yusuf Maitama Tuggar



Secretary of State Antony J. Blinken holds a joint press availability with Nigerian Foreign Minister Yusuf Maitama Tuggar in Abuja, Nigeria, on January 23, 2024.

 

Nigeria "essential" to global future according to U.S. Secretary of state

Yusuf Tuggar tweeted Anthony Blinken's visit focused enhancing trade relations and deepening democracy in West Africa.

Nigerian president Bola Tinubu held discussions with the US secretary of state ahead of a press conference.

The US top diplomat said Nigeria had an essential part to play in how Africa could shape the global future.

"Nigeria as Africa's largest country, largest economy, largest democracy, is essential to that effort [Editor's note: referring to the role Africa has in shaping the future globally]."

"We are doing a lot of work together already to drive in a positive direction. We're we're we're driving climate action. As partners in the Global Methane Coalition, we're pushing for permanent representation for African voices in the U.N. Security Council, in other international organizations."

"The United States is committed to strengthening genuine partnerships on the continent, to work to solve shared challenges, and also to deliver on the promise and the fundamental aspirations of our peoples," Blinken said.

His trip is part of President Biden's attempt to tout the USA as Africa's key economic and security ally.

Nigeria is Blinken's third stop on his tour of African nations, following Cape Verde and Ivory Coast. He will travel next to Angola.

Africa News

Monday, December 18, 2023

Nigeria Supreme Court blocks release of separatist leader Nnamdi Kanu

Nigeria's Supreme Court on Friday overturned a judgment by a lower court that dropped terrorism charges against separatist leader Nnamdi Kanu, ruling that trial on the charges should continue.


Kanu, a British citizen who leads the banned Indigenous People of Biafra (IPOB), disappeared from Nigeria after skipping bail in 2017. He was arrested in Kenya in 2021 and charged with terrorism.

Friday's ruling by Judge Lawal Garba reinstating Kanu's seven-count terrorism trial at a lower federal court has effectively extended his detention, which began two years ago after his arrest.

"Even though illegalities were committed with the deployment of brutal force to invade his home after he was granted bail and the extraordinary rendition (from Kenya) into the country, there is no legislation yet that has ousted the jurisdiction of the court to try him," Garba said.

Kanu had denied the charges of terrorism and knowingly broadcasting falsehoods, which are linked to social media posts he issued between 2018 and last year.

Kanu's IPOB campaigns for the secession of a part of southeastern Nigeria where the majority belong to the Igbo ethnic group. Nigerian authorities have labeled IPOB a terrorist organisation.

An attempt by the southeastern region to secede as the Republic of Biafra in 1967 - the year that Kanu was born - triggered a three-year civil war that killed more than 1 million people.

By Camillus Eboh, Reuters

Related stories: Nnamdi Kanu’s brother loses London court challenge

Nigerian separatist Nnamdi Kanu's Facebook account removed for hate speech

Monday, December 11, 2023

Video - West African leaders meet in Nigerian capital Abuja for ECOWAS Summit



Heads of State from the West African Economic Block, ECOWAS, have congregated in Abuja, Nigeria's capital, for a crucial summit aimed at tackling pressing regional issues, security threats and breached sanctions.

CGTN

Friday, November 17, 2023

Ex-central bank chief of Nigeria remanded in custody pending bail hearing

A Nigerian court on Friday remanded former central bank governor Godwin Emefiele in custody on charges of procurement fraud, pending a bail hearing scheduled for Wednesday.

Emefiele applied for bail after pleading not guilty to six new graft charges that accused him of "conferring corrupt advantage". Prosecutors cut the charges from a previous 20-count indictment, which he faced along with two others, so he could be tried separately and quickly.

"The matter is hereby adjourned to Wednesday, November 22, for ruling on the bail application. Meanwhile, the defendant should be remanded in Kuje Correctional Centre pending the ruling on his bail," Justice Hamza Muazu said.

The main trial is set to start on Nov. 28, the judge said.

Last week, Emefiele was granted bail by a separate judge after successfully challenging five months in detention.

Emefiele, who has not commented publicly on the case, was suspended by President Bola Tinubu on June 9 and was arrested a day later.

He resigned in August while in detention, paving the way for the appointment of new central bank governor Olayemi Cardoso in September. 

By Camillus Eboh, Reuters

Related stories: President Tinubu orders investigation of Central Bank of Nigeria

Suspended central bank governor of Nigeria denies firearm charges

 

Thursday, November 9, 2023

President Tinubu signs budget including funds for yacht, bulletproof cars

Nigerian President Bola Tinubu has signed into law a $2.8 billion supplementary budget that includes funding for new bulletproof cars for himself and his wife, despite widespread criticism from citizens facing a cost-of-living crisis.

The budget, which was approved by lawmakers on Nov. 2, also includes allocations for a presidential yacht, official vehicles for the first lady's office, and renovations to the president's residential quarters.

The spending plan was initially proposed by Tinubu as a means to address "urgent issues" such as defence and security.

The presidency defended the provision for the yacht, describing it as an operational naval boat with specialised security gadgets.

However, specific allocations for such areas have been overshadowed by the allocation of funds for items seen as luxuries items and on renovations for the president's residential quarters.

Opponents of the budget have argued that the spending is unnecessary and insensitive to the plight of ordinary Nigerians, who are struggling to make ends meet amid rising inflation and economic hardship.

Africa's most populous nation is grappling with double-digit inflation, foreign currency shortages, a weakening naira, widespread insecurity and crude oil theft.

Tinubu, who was sworn into office in May, has been under pressure from unions to offer relief to households and workers. He has asked Nigerians to be patient with reforms.

By Felix Onuah, Reuters

Related stories: House of Representatives in Nigeria reject plan to buy presidential yacht

SUVs and Yachts in Nigeria Budget During Economic Hardship


Tuesday, November 7, 2023

Peter Obi slams court ruling confirming Tinubu election win

Nigeria's opposition Labour Party leader Peter Obi on Monday criticised the Supreme Court's ruling affirming President Bola Tinubu's victory in February's elections and vowed to continue to fight for a "New Nigeria".

The country's top court on Oct. 26 rejected an attempt to overturn the election result by the main opposition leader Atiku Abubakar and Obi, who came second and third in the vote, slamming the door on any legal challenge against Tinubu, who says he won fairly.

The Supreme Court judgment followed a pattern seen in previous presidential elections that have been challenged in court. None of the attempts to overturn results through the courts has been successful.

Speaking for the first time since the ruling, Obi, a former two-term governor who campaigned as an outsider, told reporters the judgment was a disappointment and contradicted overwhelming evidence of election rigging, false claims of technical glitches, and other irregularities.

He said the ruling was a "total breach of the confidence the Nigerian people have in our judiciary" and a "show of unreasonable force against the very Nigerian people from whom the power of the Constitution derives".

Despite the setback, Obi vowed to remain in the opposition and continue fighting for a "New Nigeria", pledging to remain committed to good governance to ensure the country was led away from what he called its current waste and consumption orientation to a production-driven economy.

"We will offer the checks and balances required in a functional democracy and vie robustly in forthcoming elections to elect those who share our vision of a new Nigeria," Obi said.

Obi's supporters, known as the "Obidients", have been vocal in their criticism of the Supreme Court ruling. They have accused the court of being biased and of protecting the interests of the ruling party.

Obi's rejection of the Supreme Court ruling is likely to resonate with his supporters, mostly young Nigerians who were attracted by his message of hope and change and see him as a break from the old guard.

By Camillus Eboh, Reuters

Related stories: Atiku says court ruling will erode trust in elections in Nigeria

Supreme Court of Nigeria affirms President Tinubu's election win

Friday, November 3, 2023

House of Representatives in Nigeria reject plan to buy presidential yacht

Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m (£5m), a senior lawmaker has said.

Nigerians had criticised the plan as a waste of money on luxuries during an economic crisis.

Lawmakers instead moved the $6m to the student loan budget, doubling its allocation, Abubakar Bichi said.

President Bola Tinubu took office in May with a promise to cut waste, and ease people's financial hardship.

But he triggered an outcry after he tabled a supplementary budget in the National Assembly for approval, with the planned purchase of the yacht listed under the Nigerian Navy's proposed capital expenditure of $53m.

Human rights activist and former lawmaker Shehu Sani reacted by saying that "the poor can't be struggling for survival in a canoe while their leader is yachting".

Mr Tinubu's spokesman Temitope Ajayi distanced the president from plans to buy the yacht.

"From what I know, the request for a yacht, however it is named or couched in the budget is from the navy and they must have operational reasons for why it is required," he said.

The budget was approved by the House of Representatives on Thursday.

But Mr Bichi, chairman of the influential House Committee on Appropriation and a member of Mr Tinubu's ruling party, told local journalists that lawmakers had declined to approve the allocation for a presidential yacht.

The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.

The government is also planning to spend $15m (£13m) on the presidential air fleet.

The controversy comes at a time when Mr Tinubu is under intense pressure over the cost-of-living crisis, and a massive fall in the value of Nigeria's currency, the naira, against the dollar.

Nigeria's annual inflation rose to 26.7% in September, according to official statistics.

A leading advocacy group in Nigeria, the Socio-Economic Rights and Accountability Project (Serap), said the purchase of a yacht could not be justified when "137 million Nigerians live in extreme poverty".

It added that their plight worsened after Mr Tinubu scrapped a fuel subsidy in his inaugural speech as president, causing the price of fuel and other basic commodities to rise.

Activist Omoyele Sowore accused the government of spending on luxuries while it "maintains the miseries of the Nigerian populace".

Mr Ajayi said the president and his vice-president were not planning to add new vehicles to their fleet, and were using "inherited vehicles" from the previous administration.

He said the budget for vehicles was for hundreds of civil servants and political aides working at State House.

By Farouk Chothia & Wycliffe Muia, BBC

Related story: SUVs and Yachts in Nigeria Budget During Economic Hardship

Tuesday, October 31, 2023

Atiku says court ruling will erode trust in elections in Nigeria

Nigeria's main opposition leader Atiku Abubakar said on Monday last week's Supreme Court decision affirming President Bola Tinubu's election win would erode trust in elections and called for changes to the electoral laws to improve transparency.

The country's top court rejected a challenge by Atiku and Peter Obi, who came second and third in the vote, slamming the door on any legal challenge against Tinubu, who says he won fairly.

Reacting to the judgment for the first time, Atiku told reporters the court's decision would lead to "the erosion of trust in the electoral system and our democracy".

He criticised the judges for refusing to admit new evidence he said showed Tinubu had used a fraudulent university certificate to contest, which the president denies.

"As for me and my party this phase of our work is done. However, I am not going away," the 76-year-old Atiku said, hinting he may not be ready to retire from active politics.

Atiku, a former vice president between 1999-2007, said Nigeria's electoral laws should be amended, including making electronic voting mandatory and requiring a candidate for president to garner more than 50% of the vote to win.

In Nigeria, a candidate only requires a simple majority and at least 25% of the votes in three quarters of the country's 36 states to be declared president.

The Supreme Court judgment followed a pattern seen in previous presidential elections that have been challenged in court. None of the attempts to overturn results through the courts has been successful.

By Camillus Eboh,Reuters

Related stories: Supreme Court of Nigeria affirms President Tinubu's election win

No evidence president of Nigeria forged college record


Friday, October 27, 2023

Supreme Court of Nigeria affirms President Tinubu's election win

ABUJA, Oct 26 (Reuters) - Nigeria's Supreme Court on Thursday upheld President Bola Tinubu's election win, bringing to an end a legal challenge brought by his two main rivals, who argued that his victory was marred by irregularities.

The ruling will give 71-year-old Tinubu a clear mandate to govern Africa's most populous nation, which is grappling with double-digit inflation, foreign currency shortages, a weakening naira, widespread insecurity and crude oil theft.

The biggest opposition, People's Democratic Party (PDP), said it was "alarmed and disappointed" by the ruling, but Tinubu welcomed the judgment.

"We are all members of one household, and this moment demands that we continue to work and build our country together," Tinubu said in a statement.

Nigeria returned to democracy in 1999 after three decades of almost uninterrupted military rule, but accusations of ballot-rigging and fraud have followed its electoral cycles.

The judgment by seven Supreme Court judges, which is final, follows a pattern seen in previous presidential elections that have been challenged in court. None of the attempts to overturn results through the courts has been successful.

"This judgment by the Supreme Court has evidently shaken the confidence of Nigerians in the judiciary, especially the Supreme Court as the last hope of the common man," the PDP said.

Atiku Abubakar of the PDP and Peter Obi of the Labour Party came second and third respectively in the February vote, but rejected the result and called for Tinubu's win to be annulled.

The two opposition leaders had appealed a Sept. 6 tribunal judgment that endorsed Tinubu's victory.

In the appeal, they argued that the electoral commission failed to electronically transmit results from polling stations to an online portal, which undermined their authenticity.


They also said Tinubu had won less than 25% of the vote in the federal capital Abuja so he did not meet the legal threshold to become president.

The judges dismissed all their arguments.

By Camillus Eboh, Reuters

No evidence president of Nigeria forged college record

Opposition claims president Tinubu forged diploma

Peter Obi challenges Nigeria's presidential election result in court

Thursday, October 26, 2023

Top court in Nigeria to rule on presidential election challenge

Nigeria's Supreme Court will rule on Thursday whether to uphold President Bola Tinubu's disputed election victory, a court notice showed on Wednesday, after two of his main contenders challenged the decision of a lower court last month.

Atiku Abubakar of the People's Democratic Party and Peter Obi of the Labour Party, who came second and third respectively in the February vote, allege that the election was marred by irregularities.

The Supreme Court is the highest court in Africa's most populous nation, and its decision will be final.

No legal challenge to the outcome of a presidential election has succeeded in Nigeria, which returned to democracy in 1999 after three decades of almost uninterrupted military rule and has a history of electoral irregularities.

Abubakar and Obi on Monday asked the Supreme Court to quash a Sept. 6 tribunal decision upholding Tinubu's win, in a last bid to overturn a result widely accepted by the international community.

The Supreme Court has 60 days to pass judgment on the tribunal ruling.

Lawyers for Atiku and Obi told the Supreme Court the tribunal erred when it declared that it was not mandatory for the electoral agency to electronically transmit results from polling stations even though it had promised to do this.

They also argued that Tinubu did not score 25% of the vote in the federal capital Abuja, which meant he did not meet the legal threshold to be declared winner.

Under Nigeria's electoral law, a presidential candidate is deemed to have won if he or she gets no less than a quarter of the votes cast in at least two-thirds of all the 36 states and Abuja.

The provision has been interpreted differently by the opposition and Tinubu's lawyers.

The opposition says a successful candidate should get 25% of the vote in three quarters of the states and the same in Abuja, while Tinubu argued that the 25% refers to the states and Abuja combined.

By Macdonald Dzirutwe, Reuters

Related stories: No evidence president of Nigeria forged college record

Opposition claims president Tinubu forged diploma

Peter Obi challenges Nigeria's presidential election result in court

Tuesday, October 17, 2023

Nigeria Set To Get $1.5 billion World Bank Loan By End of the Year

Nigeria’s cabinet approved plans by the government to seek a $1.5 billion loan from the World Bank, Finance Minister Wale Edun said.

The funding will be concessionary and is expected to be secured by December, Edun told reporters in the capital, Abuja, on Monday. The West African nation will also seek $80 million of financing from the African Development Bank, he said.

Nigeria is seeking funding as it implements a series of economic reforms to accelerate economic growth and support the more than 40% of its 200 million people who live in poverty. Over the past eight years, the nation’s debt has increased almost eight-fold to more than $110 billion, and servicing those obligations consumed 96% of government revenue in 2022.

The reform initiative by President Bola Tinubu “is being rewarded by processing for Nigeria $1.5 billion of immediate financing,” Edun said. “Provided that we do everything on our own side, it will be in before the end of the year.”

Read More: Nigeria Seeks World Bank Loan as IMF Says It’s Open to Funding

The International Monetary Fund has welcomed Nigeria’s reforms, which include unifying the nation’s various exchange rates and removing a costly gasoline subsidy, and said it’s prepared to help the government.

“As every member country of the IMF, Nigeria can seek IMF financing if they see this as helpful to address external imbalances,” the Lagos-based Punch newspaper quoted the fund as saying. “The Nigerian authorities have not approached the IMF with a request for financing.”

By Ruth Olurounbi, Reuters

Friday, October 13, 2023

President Tinubu nominates new head of EFCC

Nigeria's president nominated a lawyer to head its anti-graft agency after President Bola Tinubu suspended the previous chief amid corruption allegations, his spokesperson said on Thursday.

Tinubu's nomination of Ola Olukoyede, a former chief of staff to the previous head of the Economic and Financial Crimes Commission (EFCC), comes four months after he suspended indefinitely Abdulrasheed Bawa for alleged abuse of office.

The EFCC is tasked with investigating and prosecuting graft in Africa's largest oil exporter and biggest economy, which has grappled with endemic corruption for decades.

If confirmed by the Senate, Olukoyede will take the reins of an agency that is leading extradition proceedings for former oil minister Diezani Alison-Madueke, charged with receiving bribes in the form of cash, luxury goods, flights on private jets and the use of high-end properties in Britain in return for awarding oil contracts.

Nigerians blame corruption by the political elite for widespread poverty in the country, which is facing chronic dollar shortages, a high debt burden, double digit inflation and sluggish growth. 

By Felix Onuah, Reuters

Related stories: US Treasury Secretary Adeyemo urges Nigeria to fight corruption

Former oil minister of Nigeria Alison-Madueke charged with bribery by UK police

20 new charges filed against suspended central bank chief of Nigeria